Kestra Investment Management LLC Takes $235,000 Position in Intuit Inc. (NASDAQ:INTU)

Kestra Investment Management LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 379 shares of the software maker’s stock, valued at approximately $235,000.

Other large investors also recently modified their holdings of the company. LGT Financial Advisors LLC bought a new stake in Intuit during the second quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter worth about $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit during the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders sold a total of 119,186 shares of company stock worth $76,339,018 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on INTU shares. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Price Performance

NASDAQ INTU opened at $634.07 on Tuesday. The stock has a 50-day moving average of $634.10 and a 200 day moving average of $631.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $177.56 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 3.17 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the business posted $1.14 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.